Eastern Bank Purchases 765 Shares of Newmont Co. (NYSE:NEM)

Eastern Bank grew its position in shares of Newmont Co. (NYSE:NEM) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,550 shares of the basic materials company’s stock after purchasing an additional 765 shares during the quarter. Eastern Bank’s holdings in Newmont were worth $169,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Waverton Investment Management Ltd grew its position in Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Red Cedar Investment Management LLC purchased a new position in Newmont in the 3rd quarter worth $1,263,000. Finally, Two Sigma Advisers LP lifted its stake in Newmont by 99.8% in the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock worth $32,138,000 after purchasing an additional 300,400 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

NEM has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday. They set a “buy” rating and a $47.20 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Newmont Price Performance

NEM opened at $40.19 on Wednesday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a market cap of $45.75 billion, a price-to-earnings ratio of -26.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $40.49 and a two-hundred day simple moving average of $46.90.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 84.7% on a year-over-year basis. Research analysts predict that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.